Hess (NYSE:HES) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of Hess (NYSE:HES - Get Free Report) in a research note issued on Wednesday. The brokerage set a "hold" rating on the oil and gas producer's stock.

A number of other research firms have also commented on HES. Susquehanna reduced their price target on shares of Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. UBS Group lowered their price target on shares of Hess from $170.00 to $163.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Mizuho dropped their target price on shares of Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Piper Sandler reduced their target price on Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, Scotiabank decreased their price objective on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a report on Friday, April 11th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.16.

Hess Trading Down 0.6%

Shares of Hess stock opened at $132.01 on Wednesday. Hess has a 52-week low of $123.79 and a 52-week high of $161.69. The firm has a market capitalization of $40.83 billion, a PE ratio of 14.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The company's fifty day moving average price is $138.80 and its two-hundred day moving average price is $141.33.

Hess (NYSE:HES - Get Free Report) last issued its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). Hess had a net margin of 21.27% and a return on equity of 26.32%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm posted $3.16 earnings per share. Hess's revenue was down 12.1% on a year-over-year basis. On average, analysts expect that Hess will post 8.08 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John B. Hess sold 175,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value of $27,877,500.00. Following the completion of the transaction, the chief executive officer now owns 2,384,679 shares in the company, valued at $379,879,364.70. This trade represents a 6.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hess

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Hess during the 1st quarter valued at $25,000. J.Safra Asset Management Corp purchased a new position in Hess during the fourth quarter valued at approximately $25,000. Global X Japan Co. Ltd. boosted its position in shares of Hess by 106.2% in the first quarter. Global X Japan Co. Ltd. now owns 200 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 103 shares during the period. Capital Analysts LLC raised its holdings in Hess by 367.4% during the first quarter. Capital Analysts LLC now owns 201 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 158 shares during the period. Finally, Sierra Ocean LLC bought a new stake in Hess during the 4th quarter valued at approximately $27,000. Institutional investors own 88.51% of the company's stock.

Hess Company Profile

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.

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